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Question 5 Chapter 10 of Class 12 Part – 2 – 2024
5. (Journal) UTI has Rs. 10,00,000 95. Debentures of RS. 100 each due for redemption. Pass Journal entries.
We are providing a solution of Question 5 Chapter 10 of Class 12 Part – 2 Usha Publication in two formats. one is in Video format and another is in article format. Check out both formats as follows:
The video consists solution of question numbers from 1 to 5 Chapter no. 10 class 12 of Usha publication. To check the direct solution of question no. 5 from the following video by using time stamps of the video.
Journal
| Date | Particulars |
L.F. | Debit ₹ | Credit ₹ | |
|---|---|---|---|---|---|
| 9 % Debenture Application A/c | Dr. | 10,00,000 | |||
| To Debenture holders A/c | 10,00,000 | ||||
| (Being amount due to debentures holders) | |||||
| Debenture Holder A/c | Dr. | 10,00,000 | |||
| To Bank A/c | 10,00,000 | ||||
| (Being payment made) | |||||
Note : UTI is a Financial Institutions , therefore , it will not create DRR for redemption of debentures under Rule 18 (7).
Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
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